By Ebi Kesiena
US Treasury Secretary Janet Yellen said on Monday that Zambia must address corruption, stating that President Hakainde Hichilema, who took charge in August 2021, had made progress doing so.
Yellen who is on a three-country visit to Africa added that it was critically important to restructure Zambia’s debt.
Yellen added that Zambia’s debt overhang was a drag on its whole economy and that China had been a barrier to reaching a resolution on the southern African country’s debt problem.
She also said that the war was putting an unnecessary drag on the continent’s economy.
Yellen is on a three-country visit to Africa. In Senegal, she said Russia’s war in Ukraine was hitting Africans particularly hard by exacerbating food insecurity and putting an unnecessary drag on the continent’s economy.
